If the German horse drinks less,

at ECB they must cheat.

Two bad news from Germany, for the European deep recession.

Today: -6% manuf. industries orders in Germany.

Yesterday: at ECB they have lost their LAST CHANCE to serve the people they should serve.

ECB cuts rates by 0.75, NOT daring to choose between 0.5 and 1.0.

Please note that, as soon as some world region will succeed to do something in order not to stop (physically impossible), but to smooth some effects of the “december 2007 – sometimes in 2o10-11” recession, Europe will just crackdown as a whole, in the absence of any policy. And there is no reason to preview that any policy will be undertaken in Europe, before it’s too late: IT IS TOO LATE ALREADY.

All the best macro-economists (except our modest, little Roubini sect, the Truth-Tellers) realised we were in a crisis, although still not grasping it as a complex-deep and unique one, only in … September 20o8, i.e. 13 months after its dramatic, nuclear-bomb implosion.

The forecast of a German bank of GDP – 4% is clearly over-optimistic, in an average scenario without any European economic policy; eventually, later on just some social policy, when people’s revolts will diffuse and become violent. The Italian CGIL Trade Union is unluckily the only one, of the 3 BIG TUs, to play a democratic, moderate and responsible game; with foresightedness, in order to prevent the crisis to go socially very very bad, catastrophic and VIOLENT; an ideal ground for Red and Islamic Brigades: we’ll talk this soon,in a next post, à propos of the FRIDAY 12 DEC. GENERAL STRIKE IN ITALY ON BEHALF OF AN ECONOMIC POLICY. Talking Brigades: DO YOU KNOW THAT THERE ARE AT LEAST SOME HUNDREDS hidden-sleeping Al Qaeda associates in Germany, UK and elsewhere, with a European passport, and all of them received a full military training in the tribal provinces of Pakistan? We know it, from published sources: October issue, Le Monde Diplomatiqe.

From the Frankfurt BABEL TOWER (read: ECB), board member Mr Bini Smaghi (interviewed zis morning at Italian RAI-RADIO 3) replies to the -4% provocation, by saying that “such bank economists have vested interests” (conflitto di interessi) in making such forecasts. He, they forecast a GDP upturn in the 2009 2nd semester, but they don’t believe such bullshit, since they are not crazy. They just lie.

Let us fix a 1st Babel Tower dimension: LA MALAFEDE; at the ECB they are liars using all their hyperpower and Authority, to diffuse informational heavy drugs, downers (tranquillanti) to people. MENTONO SAPENDO DI MENTINE.

TODAY: According to Mario Platero (il sole 24 ore correspondent), the worst guesses were 380,000 jobs lost in November: they came out almost 50% more than that. IT IS SURE THAT THE U.S. ARE LOSING MORE THAN 2 MILLION JOBS across 2008, since thet’re up to 1.7 mn by now.

YESTERDAY: At ECB, besides being professional and trained liars: either they know little about economics, or they live in another planet (ignoring what happens here), or they have unconfessable aims (like fucking the working class and the Trade Unions, together with large sections of the creative and productive bourgeoisie, etc.). We firmly believe THE 4 OF THEM HOLD, in a satanic mix.

As usual, ECB did’nt dare to cut 1% full (just 0.75), even though its 2% inflation target is already, fully and even too much satisfied – since (a short lecture for ECB dunces and liars):

a) Summer 2008 breakthrough shift in ALL PRIMARY MARKETS: from inflation to deflation;

b) such a radical change is NOW quickly diffusing downwards on intermediate and final goods markets;

Abandoned Homes by Serrator

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